The Benefit to the Firm from Hiring One Additional Worker

question 162

Multiple Choice

The benefit to the firm from hiring one additional worker is called the

• A)marginal revenue product of labor.
• B)marginal revenue.
• C)marginal profit.
• D)total revenue.

---

Definitions:

SCM

Stands for Supply Chain Management, which involves the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

FAIS

Stands for Financial Accounting Information System, a specialized system that collects, processes, stores, and disseminates financial information.

Fishbowl System

An inventory management system that allows businesses to monitor and manage their inventory in real-time, enhancing accuracy and efficiency.

Inventory Controls

Methods and processes used to manage, organize, and maintain a company's stock of goods effectively.